16.
16. QRS makeQRS makes large cash paymes large cash payments averagnts averaging P17,000 dailing P17,000 daily. y. The company cThe company changed from uhanged from usingsing checks to sight dra
checks to sight drafts which wilfts which will permit it to hold unto its casl permit it to hold unto its cash for one extra day. h for one extra day. If QRS canIf QRS can use the extra cash to earn 14% annually, what annual peso return will it earn?
use the extra cash to earn 14% annually, what annual peso return will it earn?
aa.. PP665522..1100 bb.. PP66,,552211..0000 cc.. PP66..5522 dd.. PP22,,338800 17.
17. SixtSixty y percpercent of ent of BacBaco's annual saleo's annual sales s of $900,00of $900,000 0 is on is on crecredit. If dit. If its yearits year-end recei-end receivablvableses turnover is 4.5, what is the average collection period and the year-end receivables, respectively turnover is 4.5, what is the average collection period and the year-end receivables, respectively (assume a 365-day year)?
(assume a 365-day year)? A.
A. 81 81 days days and and $120,000. $120,000. C. C. 73 73 days days and and $108,000.$108,000. B.
B. 73 73 days days and and $120,000. $120,000. D. D. 81 81 days days and and $200,000.$200,000. 18.
18. BesBest t ComComputeputers rs belbelieveieves s that its that its colcollectlection ion coscosts ts coulcould d be be redreduced througuced through h modmodifiificatcation ion of of col
collelectction ion prproceocedurdureses. . ThThis is actactioion n is is exexpecpecteted d to to reresusult lt in in a a lelengtngthenhening ing of of ththe e aveaveraragege coll
collectection period from 30 ion period from 30 to to 35 35 daysdays; ; howhoweveever, r, thethere re wilwill l be be no no chanchange in ge in uncouncollellectictibleble accounts, or in total credit sales. Furthermore, the variable cost ratio is 60%, the opportunity accounts, or in total credit sales. Furthermore, the variable cost ratio is 60%, the opportunity cost of a longer collection period is assumed to be negligible, the company's budgeted credit cost of a longer collection period is assumed to be negligible, the company's budgeted credit sales for the coming year are $45,000,000, and the required rate of return is 6%. To justify sales for the coming year are $45,000,000, and the required rate of return is 6%. To justify changes in collection procedures, the minimum annual reduction of costs (using a 360-day year changes in collection procedures, the minimum annual reduction of costs (using a 360-day year and ignoring taxes) must be
and ignoring taxes) must be A
A. . $$337755,,00000 0 BB. . $$3377,,55000 0 CC. . $$112255,,000000 DD. . $$2222,,550000 Questions 19 and 20 are based on the following information.
Questions 19 and 20 are based on the following information.
Snobiz, Inc. has $2 million invested in Treasury bills yielding 8% per annum; this investment will Snobiz, Inc. has $2 million invested in Treasury bills yielding 8% per annum; this investment will satisfy the firm's need for funds during the coming year.
satisfy the firm's need for funds during the coming year. 19.
19. If it costs $50 to sell these bills, regaIf it costs $50 to sell these bills, regardless of the amount, how much shoulrdless of the amount, how much should be withdrawn at ad be withdrawn at a time?
time? A
A. . $$5500,,00000 0 B. B. $$110000,,00000 0 C. C. $$225500,,000000 DD. . $$550000,,000000 20.
20. If Snobiz, Inc. needs $167,000 a mIf Snobiz, Inc. needs $167,000 a month, how frequently should the CFO onth, how frequently should the CFO sell off Tsell off Treasury bills?reasury bills? A.
A. About About every every 3 3 days. days. C. C. About About every every 15 15 days.days. B.
B. About About every every 9 9 days. days. D. D. About About every every 18 18 days.days. 21.
21. Ten Q’s Inc. has an inventory conveTen Q’s Inc. has an inventory conversion period of 60 daysrsion period of 60 days, a receivable convers, a receivable conversion period of ion period of 35 days, and a payment cycl
35 days, and a payment cycle of 26 days. e of 26 days. If its saleIf its sales for the period just es for the period just ended amounted tonded amounted to P972,000, what is the investment in
P972,000, what is the investment in accounts receivable? accounts receivable? (Assume 360 days (Assume 360 days a year.)a year.) aa.. PP8855,,220000 bb.. PP7722,,445500 cc.. PP9944,,550000 dd.. PP7799,,660000 22.
22. Simba CorSimba Corp., whose grp., whose gross saleoss sales amountes amounted to P1,200,00d to P1,200,000 sold on term0 sold on terms of 3/10, net 30s of 3/10, net 30. . TheThe collections manager estimated that 30% of the customers pay on the 10th day and take collections manager estimated that 30% of the customers pay on the 10th day and take discounts
discounts; 40% on ; 40% on the 30th day; and the 30th day; and the remaining 30% pay, on the the remaining 30% pay, on the averageaverage, 40 , 40 days after thedays after the purchase
purchase. . If If managemanagement ment would would toughen toughen on on its its collectcollection ion policy policy and and require require that that all all non- non-discount customers pay on the 30th day, how much would be the receivables balance?
discount customers pay on the 30th day, how much would be the receivables balance? aa.. PP6600,,000000 bb.. PP8800,,000000 cc.. PP7700,,000000 dd.. ZZeerroo 23.
23. Prest CorPrest Corp. plans to p. plans to tighten ittighten its credis credit policy. t policy. Below is Below is the summarthe summary of chay of changes:nges: O
Olldd NNeeww A
Avveerraagge e nnuummbbeer r oof f ddaayys s ccoolllleeccttiioonn 7755 5500 R
Raattiio o oof f ccrreeddiit t ssaallees s tto o ttoottaal l ssaalleess 7700%% 6600%%
Projected sales for the coming year is P100 million and it is estimated that the new policy will Projected sales for the coming year is P100 million and it is estimated that the new policy will result in a 5% loss if the new policy is impleme
result in a 5% loss if the new policy is implemented. nted. AssumAssuming a 360-day year, what is theing a 360-day year, what is the effect of the new policy on accounts receivable?
effect of the new policy on accounts receivable?
aa.. DDeeccrreeaasse e oof f PP113 3 mmiilllliioonn.. cc.. DDeeccrreeaasse e oof f PP5 5 mmiilllliioonn.. b.
b. No changeNo change.. d.d. DecreDecrease of P 6.6ase of P 6.67 milli7 million.on. 24.
24. NuNumemero ro 1 1 CoCo.’s budg.’s budgeteted ed salsales es for the for the comcoming year ing year arare e P9P96 6 mimillllioion, n, of of whiwhich ch 8080% % araree expected to be credit sales at
expected to be credit sales at terms of n/30. terms of n/30. The company estimates that The company estimates that a proposed relaxationa proposed relaxation
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of credit standards would increase credit sales by 30% and increase the average collection of credit standards would increase credit sales by 30% and increase the average collection period form
period form 30 30 days to days to 45 45 days. days. Based on Based on a a 360-day year, 360-day year, the pthe proposeroposed d relaxatrelaxation ion of of creditcredit standards would result to an increase in accounts receivable balance of
standards would result to an increase in accounts receivable balance of
aa.. PP66,,888800,,000000 bb.. PP11,,992200,,000000 cc.. PP22,,888800,,000000 d.. Pd P66,,008800,,000000 25.
25. PhilPhillips Glalips Glass Compass Company buys on ny buys on terterms of ms of 2/12/15, net 5, net 30. It 30. It doedoes not s not take distake discountcounts, and its, and it typically pays 30 days after the invoice date. Net purchases amount to $720,000 per year. On typically pays 30 days after the invoice date. Net purchases amount to $720,000 per year. On average, how muc
average, how much “free” trade credit does Philh “free” trade credit does Phillips receive durlips receive during the year? ing the year? (Assu(Assume a 360-me a 360-day year.)
day year.)
aa.. $$3300,,000000 bb.. $$4400,,000000 cc.. $$5500,,000000 dd.. $$6600,,000000 26.
26. SlipperSlippers Mart has sas Mart has sales of P3 milles of P3 million. lion. Its creIts credit period andit period and average colld average collection periection period are bothod are both 30 days and 1% of
30 days and 1% of its sales end as its sales end as bad debts. bad debts. The general manager intends to extend the creditThe general manager intends to extend the credit period to
period to 45 45 days days which will which will increasincrease e sales by sales by P300,000P300,000. . HoweveHowever, r, bad bad debts losses debts losses on on thethe incr
incremeemental salental sales s wouwould be ld be 3%. 3%. CosCosts of ts of proproductducts s and relatand related expenseed expenses s amoamount to unt to 40%40% exclusiv
exclusive of the cost of e of the cost of carryicarrying receivablng receivables of 15% and bad es of 15% and bad debts expensedebts expenses. s. AssumAssuming 360ing 360 days a year, the change in policy would result to incremental investment in receivables of
days a year, the change in policy would result to incremental investment in receivables of aa.. PP2244,,770044.. bb.. PP6655,,000000.. cc.. PP770011,,557733 dd.. PP99,,775500.. 27.
27. The Liberal Sales Co. budgetThe Liberal Sales Co. budgeted sales for the coming year are P30 million of which 80% areed sales for the coming year are P30 million of which 80% are expected to be on credit
expected to be on credit. . The companThe company wants to change its crey wants to change its credit terms frodit terms from n/30 to 2/10,m n/30 to 2/10, n/30.
n/30. If the new credit If the new credit terms are adopted, the company estterms are adopted, the company estimates that cash discounts would beimates that cash discounts would be taken on 40% of the credit sale
taken on 40% of the credit sales and the new uncollectibls and the new uncollectible amount would be unchangee amount would be unchanged. d. TheThe adoption of the new credit terms would result in expected discount availed of in the coming adoption of the new credit terms would result in expected discount availed of in the coming year of
year of
aa.. PP660000,,000000 bb.. PP228888,,000000 cc.. PP448800,,000000 dd.. PP119922,,000000 28.
28. Mr. S. Mr. S. MarMart t assassumeumed d the presithe presidencdency y of Riches Corp. He of Riches Corp. He instinstituituted new ted new polpolicieicies s and withand with respect to credit policy, below is a summary of relevant information:
respect to credit policy, below is a summary of relevant information: O
Olld d CCrreeddiit t PPoolliiccyy NNeew w CCrreeddiit t PPoolliiccyy S
Saalleess PP11,,880000,,000000 PP11,,998800,,000000 A
Avveerraagge e ccoolllleeccttiioon n ppeerriioodd 330 0 ddaayyss 336 6 ddaayyss The company requ
The company requires a rate of return of 10% and a variable cost ratires a rate of return of 10% and a variable cost ratio of 60%. io of 60%. Using a 360-Using a 360-day year, the pre-tax cost of carrying the additional investment in receivables under the new day year, the pre-tax cost of carrying the additional investment in receivables under the new policy w
policy would beould be
aa.. PP44,,880000 bb.. PP22,,888800 cc.. PP33,,000000 dd.. PP44,,008800 29.
29. The SalThe Sales Direes Directctor or of of CaCan n CaCan n CoCo. . susuggggesests ts ththat certat certain credain credit it tetermrms s be modibe modififieded. . HeHe estimates the following effects:
estimates the following effects:
Sales will increase by at least 20%.Sales will increase by at least 20%.
Accounts receivable turnover will be reduced to 8 times from the present turnover Accounts receivable turnover will be reduced to 8 times from the present turnover of 10 times.
of 10 times.
Bad debts, now at 1% of sales wilBad debts, now at 1% of sales will increase to 1.5%. l increase to 1.5%. Sales beforSales before the proposede the proposed changes is at
changes is at P900,000. P900,000. Variable cost ratio Variable cost ratio is 55% is 55% and desired rate oand desired rate of return is f return is 20%. 20%. FixedFixed expenses amount to P150,000.
expenses amount to P150,000.
Should the company allow the revision of its credit terms? Should the company allow the revision of its credit terms? a.
a. YesYes, bec, because ause incincome ome wilwill inl increcrease base by P68y P68,850,850.. b.
b. Yes, beYes, because losscause losses will es will be reducebe reduced by P78,80d by P78,800.0. c.
c. No, bNo, becaecause iuse inconcome wme will bill be ree reduceduced by Pd by P13,013,000.00. d.
d. No, bNo, becaecause luse lossosses wies will inll increcrease base by P28y P28,000,000..
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30.
30. WastiWasting Resource Co. has annuang Resource Co. has annual credit salel credit sales of P4 million. s of P4 million. Its averagIts average collection perie collection period is 40od is 40 day
days s anand d babad d dedebtbts s arare e 5% of 5% of sasaleles. s. ThThe e crcrededit it and colland collectection manaion manageger r is is coconsnsideiderinringg instituting a stricter collection policy, whereby bad debts would be reduced to 2% of total sales, instituting a stricter collection policy, whereby bad debts would be reduced to 2% of total sales, and the average collect
and the average collection period would fall to 30 days. ion period would fall to 30 days. HoweveHowever, sales would also fall by anr, sales would also fall by an est
estimaimated P500,ted P500,000 annua000 annuallylly. . VarVariabliable costs are 60% of e costs are 60% of salesales and s and the cost of carrythe cost of carryinging receivabl
receivables is 12%. es is 12%. AssumAssuming a tax rate of 35% and 360 days a year, the increming a tax rate of 35% and 360 days a year, the incremental changeental change in the profitability of the company if stricter policy would be implemented would be
in the profitability of the company if stricter policy would be implemented would be a.
a. ZerZero as the poso as the positiitive and negve and negativative effee effects ofcts offsefset each ott each otherher.. b.
b. A reducA reduction in net tion in net income bincome by P70,000y P70,000.. c.
c. A reA reducductition in non in net iet incncomome by P3e by P38,38,350.50. d.
d. A reA reductduction iion in nen net int incomcome by e by P35P35,400,400.. 31.
31. PhrankliPhranklin Pharms Inc. purchases mern Pharms Inc. purchases merchandise from a company that gives sales terchandise from a company that gives sales terms of 2/15,ms of 2/15, net 40. Phranklin Pharms has gross purchases of $800,000 per year. What is the
net 40. Phranklin Pharms has gross purchases of $800,000 per year. What is the maximummaximum amount of costly trade credit Phranklin could get, assuming they abide by the suppliers credit amount of costly trade credit Phranklin could get, assuming they abide by the suppliers credit terms? (Assume a 360-day year.)
terms? (Assume a 360-day year.)
aa.. $$8877,,111111..2200 bb.. $$3322,,666666..7700 cc.. $$5544,,444444..5500 d.. $d $5522,,226666..6677 32.
32. Crest Co. has the opportunitCrest Co. has the opportunity to increase annual sales by P1 million by selling to new riskier y to increase annual sales by P1 million by selling to new riskier custome
customers. rs. It has been estimaIt has been estimated that uncollectted that uncollectible expenses woulible expenses would be 15% and collectiond be 15% and collection costs 5%.
costs 5%. The manufacturing and selling costThe manufacturing and selling costs are 70% s are 70% of sales and of sales and corporate tax is 35%. corporate tax is 35%. If itIf it pursues
pursues this oppothis opportunitrtunity, the afty, the after tax prer tax profit wofit willill
aa.. IInnccrreeaasse e bby y PP3355,,000000.. cc.. IInnccrreeaasse e bby y PP6655,,000000.. b.
b. IncreaIncrease by P97,50se by P97,500.0. d.d. RemaiRemain the samn the same.e. 33.
33. A firm currentlA firm currently sells $500,000 annually sells $500,000 annually with 3% bad debt losses. Two alternatiy with 3% bad debt losses. Two alternative policies areve policies are available. Policy A would increase sales by $500,000, but bad debt losses on additional sales available. Policy A would increase sales by $500,000, but bad debt losses on additional sales would be 8%. Policy B
would be 8%. Policy B would increawould increase sales by an se sales by an additionadditional $120,000 over Policy A and al $120,000 over Policy A and badbad debt losses on the additional $120,000 of sales would be 15%. The average collection period debt losses on the additional $120,000 of sales would be 15%. The average collection period will remain at 60 days (6 turns per year) no matter the decision made. The profit margin will be will remain at 60 days (6 turns per year) no matter the decision made. The profit margin will be 20% of sales and no other expenses will increase. Assume an opportunity cost of 20%. What 20% of sales and no other expenses will increase. Assume an opportunity cost of 20%. What should the firm do?
should the firm do? A.
A. Make Make no no policy policy change.change. B.
B. Change tChange to o only only Policy APolicy A.. C.
C. Change to Policy Change to Policy B (means B (means also taking Policy also taking Policy A first).A first). D.
D. All policies lead to All policies lead to the same total firm the same total firm profit, thus all policies profit, thus all policies are equal.are equal. 34.
34. A firm that often factors its accountA firm that often factors its accounts receivabls receivable has an e has an agreemagreement with its finance companyent with its finance company that requires the firm to maintain a 6% reserve and charges 1% commission on the amount of that requires the firm to maintain a 6% reserve and charges 1% commission on the amount of receivables. The net proceeds would be further reduced by an annual interest charge of 10% on receivables. The net proceeds would be further reduced by an annual interest charge of 10% on the monies advanced. Assuming a 360-day year, what amount of cash (rounded to the nearest the monies advanced. Assuming a 360-day year, what amount of cash (rounded to the nearest dollar) will the firm receive from the finance company at the time a $100,000 account that is dollar) will the firm receive from the finance company at the time a $100,000 account that is due in 90 days is turned over to the finance company?
due in 90 days is turned over to the finance company? A
A. . $$9933,,00000 0 BB. . $$9900,,00000 0 CC. . $$8833,,770000 DD. . $$9900,,667755 Questions 35 through 37 are based on the following information.
Questions 35 through 37 are based on the following information.
Flesher, Inc.'s credit manager studied the bill-paying habits of its customers and found that 90% of Flesher, Inc.'s credit manager studied the bill-paying habits of its customers and found that 90% of them were prompt. She also discovered that 22% of the slow payers and 5% of the prompt ones them were prompt. She also discovered that 22% of the slow payers and 5% of the prompt ones subsequently defaulted. The company has 3,000 accounts on its books, none of which has yet subsequently defaulted. The company has 3,000 accounts on its books, none of which has yet defaulted.
defaulted. 35.
35. Calculate the total number of Calculate the total number of expected defaults, assuming no repeat business iexpected defaults, assuming no repeat business is on the horizon.s on the horizon. A
A. . 77995 5 BB. . 22001 1 CC. . 113355 DD. . 6666 36.
36. GiveGiven n averaverage revenuage revenues from salees from sales s of $1,200 and the of $1,200 and the cost of sales of cost of sales of $1,1$1,100, what is 00, what is thethe average expected profit or loss from extending credit to slow payers?
average expected profit or loss from extending credit to slow payers? A
A. . $$11000 0 pprrooffiitt. . BB. . $$11664 4 lloossss. . CC. . $$22220 0 lloossss.. DD. . $$22664 4 lloossss..
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37.
37. Given revenueGiven revenues from sales of $1,200 and the cost of sales of $1,10s from sales of $1,200 and the cost of sales of $1,100, what would the average0, what would the average level of revenues that makes it worthwhile to extend credit to slow payers?
level of revenues that makes it worthwhile to extend credit to slow payers? A
A. . $$11,,336644..000 0 BB. . $$11,,338899..774 4 CC. . $$11,,441100..2266 DD. . $$11,,551100..2266 38.
38. On cash discountOn cash discounts, all of the following stats, all of the following statements do not apply exceptements do not apply except a.
a. If a If a fifirm buyrm buys P10,s P10,000 of goo000 of goods on terds on terms of 1/1ms of 1/10, net 30 and pays wi0, net 30 and pays withthin the disin the discocountunt period, t
period, the amount he amount paid woupaid would be P9,0ld be P9,000.00. b.
b. The cost The cost of not tof not taking a casaking a cash discount h discount is alwis always higheays higher than tr than the cost of he cost of a bank loaa bank loan.n. c.
c. With tWith trade terrade terms of 2/1ms of 2/15, net 605, net 60, if the di, if the discount iscount is taken ts taken the buyer he buyer receive 45 receive 45 days of cdays of credit.redit. d.
d. The cost The cost of not tof not taking the aking the discount discount is higheis higher for tr for terms of erms of 2/10, net 2/10, net 60 than for 60 than for 2/10, net 2/10, net 30.30. 39.
39. Your firm buYour firm buys on credit termys on credit terms of 2/10, net 45, and it always pays on Das of 2/10, net 45, and it always pays on Day 45. If you calculatey 45. If you calculate that this policy effectively costs your firm $157,500 each year, what is the firm’s average that this policy effectively costs your firm $157,500 each year, what is the firm’s average accounts payable balance?
accounts payable balance?
aa.. $$11,,223344,,000000 bb.. $$662255,,000000 cc.. $$775500,,000000 dd.. $$115577,,550000 40.
40. Suppose the credit termSuppose the credit terms offered to your firm by your suppliers offered to your firm by your suppliers are 2/10, net 30 s are 2/10, net 30 days. Out of days. Out of convenience, your firm is not taking discounts, but is paying after 20 days, instead of waiting convenience, your firm is not taking discounts, but is paying after 20 days, instead of waiting until Day 30. You point out that the nominal cost of not taking the discount and paying on Day until Day 30. You point out that the nominal cost of not taking the discount and paying on Day 30 is around 37 percent. But since your firm is not taking discounts and is paying on Day 20, 30 is around 37 percent. But since your firm is not taking discounts and is paying on Day 20, what is the
what is the effectiveeffective annual cost of your firm’s current practice, using a 360-day year?annual cost of your firm’s current practice, using a 360-day year? aa. . 3366..77%% bb. . 4433..66%% cc.. 110066..99%% dd. . 7733..44%% 41.
41. What is the effective annual inteWhat is the effective annual interest rate on a rest rate on a 9% annual percent9% annual percentage rate automobile loan thatage rate automobile loan that has monthly payments?
has monthly payments? A
A. . 99% % BB. . 99..3388% % CC. . 99..8811%% DD. . 1100..9944%% 42.
42. CoCorbirbin, n, InInc. c. cacan n ississue ue 3-3-momonth nth comcommemercrcial ial pappaper er wiwith th a a faface ce valvalue ue of of $1,$1,00000,00,000 00 fofor r $980,000. Transaction costs will be $1,200. The effective annualized percentage cost of the $980,000. Transaction costs will be $1,200. The effective annualized percentage cost of the financing, based on a 360-day year, will be
financing, based on a 360-day year, will be A
A. . 88..4488%%. . BB. . 88..6666%%. . CC. . 88..0000%%.. DD. . 22..0000%%.. 43.
43. ABC CompaABC Company finances all of its seasonany finances all of its seasonal inventory needs frol inventory needs from the local bank at an effectivem the local bank at an effective interes
interest cost of 9%. t cost of 9%. The firm’s suThe firm’s supplier prompplier promises to extend trade credit on termises to extend trade credit on terms that wills that will match the 9% bank
match the 9% bank credit rate. credit rate. What terms wWhat terms would the supplier have to ould the supplier have to offer (approximately)?offer (approximately)? aa.. 22//1100, , nn//6600.. bb.. 22//1100, , nn//110000.. cc.. 22//1100, , nn//9900.. dd.. 33//1100, , nn//6600..
44.
44. A company has accounts payaA company has accounts payable of $5 million with terble of $5 million with terms of 2% discount withims of 2% discount within 15 days, netn 15 days, net 30 days (2/15 net 30). It can borrow funds from a bank at an annual rate of 12%, or it can wait 30 days (2/15 net 30). It can borrow funds from a bank at an annual rate of 12%, or it can wait until the 30th day when it will receive revenues to cover the payment. If it borrows funds on until the 30th day when it will receive revenues to cover the payment. If it borrows funds on the last day of the discount period in order to obtain the discount, its total cost will be
the last day of the discount period in order to obtain the discount, its total cost will be A.
A. $51$51,00,000 0 lelessss. . B. B. $75$75,50,500 0 lelessss. . C. C. $1$10000,00,000 0 lelessss.. D. D. $24$24,50,500 0 momorere.. 45.
45. EverEvery y 15 days 15 days a a comcompany recepany receives $10,0ives $10,000 00 worworth of th of raw materaw materialrials s frofrom m its supplits supplieriers. s. TheThe credit terms for these purchases are 2/10, net 30, and payment is made on the 30th day after credit terms for these purchases are 2/10, net 30, and payment is made on the 30th day after each delivery. Thus, the company is considering a 1-year bank loan for $9,800 (98% of the each delivery. Thus, the company is considering a 1-year bank loan for $9,800 (98% of the invoice amount). If the effective annual interest rate on this loan is 12%, what will be the net invoice amount). If the effective annual interest rate on this loan is 12%, what will be the net dollar savings over the year by borrowing and then taking the discount on the materials?
dollar savings over the year by borrowing and then taking the discount on the materials? A A. . $$33,,66224 4 BB. . $$11,,11776 6 CC. . $$44,,880000 DD. . $$11,,222244
MSQ-09
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Page 11 Page 11Answer Sheet Answer Sheet T
Thheeoorryy PPrroobblleemmss
1 1.. CC 1166.. BB 11.. DD 1166.. DD 3311.. AA 2 2.. DD 1177.. AA 22.. CC 1177.. AA 3322.. CC 3 3.. CC 1188.. AA 33.. AA 1188.. DD 3333.. CC 4 4.. DD 1199.. DD 44.. EE 1199.. AA 3344.. DD 5 5.. BB 2200.. CC 55.. DD 2200.. BB 3355.. BB 6 6.. DD 2211.. DD 66.. BB 2211.. CC 3366.. BB 7 7.. DD 2222.. CC 77.. DD 2222.. BB 3377.. CC 8 8.. CC 2233.. DD 88.. BB 2233.. DD 3388.. CC 9 9.. CC 2244.. CC 99.. DD 2244.. DD 3399.. CC 1 100.. DD 2255.. CC 1100.. AA 2255.. AA 4400.. CC 1 111.. DD 2266.. AA 1111.. AA 2266.. BB 4411.. BB 1 122.. BB 2277.. BB 1122.. CC 2277.. DD 4422.. BB 1 133.. DD 2288.. BB 1133.. DD 2288.. BB 4433.. CC 1 144.. DD 2299.. CC 1144.. BB 2299.. AA 4444.. BB 1 155.. CC 3300.. DD 1155.. BB 3300.. CC 4455.. AA 31. D 31. D
MSQ-09
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Page 12 Page 12Answer Sheet Answer Sheet T
Thheeoorryy PPrroobblleemmss
1 1.. CC 1166.. BB 11.. DD 1166.. DD 3311.. AA 2 2.. DD 1177.. AA 22.. CC 1177.. AA 3322.. CC 3 3.. CC 1188.. AA 33.. AA 1188.. DD 3333.. CC 4 4.. DD 1199.. DD 44.. EE 1199.. AA 3344.. DD 5 5.. BB 2200.. CC 55.. DD 2200.. BB 3355.. BB 6 6.. DD 2211.. DD 66.. BB 2211.. CC 3366.. BB 7 7.. DD 2222.. CC 77.. DD 2222.. BB 3377.. CC 8 8.. CC 2233.. DD 88.. BB 2233.. DD 3388.. CC 9 9.. CC 2244.. CC 99.. DD 2244.. DD 3399.. CC 1 100.. DD 2255.. CC 1100.. AA 2255.. AA 4400.. CC 1 111.. DD 2266.. AA 1111.. AA 2266.. BB 4411.. BB 1 122.. BB 2277.. BB 1122.. CC 2277.. DD 4422.. BB 1 133.. DD 2288.. BB 1133.. DD 2288.. BB 4433.. CC 1 144.. DD 2299.. CC 1144.. BB 2299.. AA 4444.. BB 1 155.. CC 3300.. DD 1155.. BB 3300.. CC 4455.. AA 31. D 31. D
